My financial advisor at Chase made me lose several thousand dollars by lying to me. Any action I can take?
Question:
Answer:
yes and no -- if he said he thought a stock would be a good investment - no you are investing on his thoughts and not fact == but if he said you could make xx $ % with out losing anything you might have a case!
What did this person lie about? Please elaborate.
If he did it for his own benefits and mislead you, yes you can
If it had anything to do with investments, probably not. Any investment has risks and its your job to know that. No one can really lie to you about stocks or mutual funds because you know they can't be sure of anything.
It'll all come down to whether you have any proof other than hearsay. If it was a personal conversation of which no evidence exists that it took place then the best you can do is discredit this person's professionalism.
As long as you can PROVE he lied, small claims court.
If he lied to you and you can prove it, you have a cast iron case for a court action demanding full compensation plus interest. Also they will be very loath to face such adverse publicity in court. See a lawyer.
If you truly feel that his bad faith or bad actions resulted in your financial loss, you can file a complaint with whichever regulatory authority governs their operations. Typically, it is the NASD.
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